Revenue for the fourth quarter was up 8 percent to $28 million, just slightly ahead of Wall Street expectations of $27.5 million. Net income was 3 cents per share, which missed the expected 6 cents.

Boingo also reported that it now estimates first quarter revenue between $21 million to $23 million, below Wall Street’s estimated $27.9 million. The company estimates a loss for the quarter, while Wall Street estimated 7 cents per share.

Boingo Chief Executive David Hagan called 2012 a transition year for the company as it repositions its business to focus more on mobile data.